While the overall state of beauty isn’t pretty, some regions and categories are performing much better than others, according to a new study by McKinsey & Co. China’s sharp, 40% decline at the start of 2020 had already recovered by August, helped along by on-shoring of previous travel retail sales, with continued dynamic growth of 8-10% in 2021. McKinsey predicts that the US will return to growth by mid-2021 and will continue growing at a 3-4% CAGR through 2022. In contrast, Europe and Japa...